Assisted Living Concepts Inc. has announced that it has reached deal to be acquired by private investment company TPG for about $278 million, people familiar with the matter said.
Under the deal, the class A shareholders of Assisted living, which is a living residence operator, will be getting $12 per share while $12.90 per share will be given to shareholders in the Class B category, sources revealed.
Assisted Living is valued by the transaction at about $278 million basing on the number of shared that the company had incurred on October 31, 2012.
The financial advisors for Assisted Living included Citigroup Global Markets Inc. while TPG was advised by Goldman Sachs & Co.
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